Sir Royalty Income Fund SIRZF

Primary Symbol: T.SRV.UN

Consumer Cyclical Restaurants

SIR Royalty Income Fund (the Fund) holds investment in SIR Corp (SIR). The Funds' investment, SIR is engaged in the business of owning and operating full-service restaurants in Canada. SIR has concept restaurant brands, including Jack Astor’s Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House, signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern, Reds Square One, and The Loose Moose, which are used by SIR under a license agreement with SIR Royalty Limited Partnership (the Partnership. The Fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. The Fund indirectly participates in the revenues generated under the License and Royalty Agreement through its Investment in the Partnership.

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Sir Royalty Income Fund > Tell them to shove it

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Comment by BlueJay2020on Jan 06, 2021 1:49pm

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Post# 32234319

RE:RE:Tell them to shove it

But SIR Corp is not the one paying the dividends - they are contractually obliged, are they not, to pay a royalty of x% of sales to the Fund? An agreement has been reached whereby these payments have been deferred, but that's at the discretion of the Fund's trustees - and they have already shown themselves to be sufficiently independent to come out and say the offer is too low (effectively).

They could close all their restaurants or sell burgers for 99c to spite us, but that would hurt them more than us.

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